Section 39Part 8 — Miscellaneous Provisions
Application of money in hands of trustees under powers of settlement
←→ Navigate · Click subsection badges to collapse · Press ? for help
39. Where, under a settlement, money is in the hands of trustees, and is liable to be laid out in the purchase of land to be made subject to the settlement, then, in addition to such powers of dealing wherewith as the trustees have independently of this Law, they may, at the option of the tenant for life, invest or apply the same as capital money arising under this Law.